BoJ's Ueda: Important to reduce JGB purchases in a foreseeable manner

Important to reduce JGB purchases in a foreseeable manner, while ensuring flexibility to be mindful of stability in bond market.

Japan's economic, price uncertainties remain high.

Must pay due attention to financial, FX markets, impact on Japan's economy, prices.

Reduction of JGB purchases will be considerable volume.

Specific amount, framework of JGB purchase reduction will be decided while listening to market participants' input.

Will start reduction of JGB purchase immediately after deciding at next policy meeting.

Monetary easing from JGB buying's stock effect will continue to work while we reduce bond holdings.

Conceivable to adjust rates earlier if price outlook is revised up or if upside risks heighten.

Every day we are checking FX moves, sustainability of the moves, impact on domestic prices, wages.

Will adjust rates if underlying inflation rises toward 2%, but cannot comment now when that will become evident.

Don't think we can reach the state of JGB holdings that is desirable in long-term in a year.

Currency swings have larger impact on prices now.

Don't think balance sheet would be in favourable shape in 1-2 years.

Want to show guidance for JGB tapering for 1-2 years to increase visibility.

Decided to put off detailed plan of JGB tapering until next meeting to have considered discussion with markets.

Difficult to say how long bond tapering would last after 1-2 year period.

We will set short-term interest rate at July meeting also considering JGB purchase reduction.

Believe impact of recent auto shipment halt is smaller than earlier halt.

Keep view that Japan's consumption turns stronger as wages gradually rise, inflation subsides.

Govt's JGB issuance plan would follow and take into account boj's bond tapering plan.

We announced JGB purchase reduction today to avoid uncertainties until July meeting as much as possible.